No Credit Check Auto Loans - Are They Legit?

No credit check auto loans are real loans that are used by those who have either bad credit, or no credit to purchase an automobile. They can be quite important to the buyer who is not otherwise able to obtain financing, but they can be costly.

How it Works

The car dealer will generally either finance the car themselves, or they will make use of a third party lender who makes such loans. They will not pull your credit history in order for you to obtain the loan, but they will make use of your paystubs, and perhaps some references to determine whether or not they will work with you.

No credit check auto loans can carry very high interest rates, so after you have exhausted all other possibilities is the time that you should start looking at these loans. If you do in fact opt to go for a no credit check auto loan, you should pay additional on the car besides the minimum payment in order to pay down on the principal, which will save you money on the interest in the end.

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